The formation of the PSC is closely watched, and this year has already had its fair share of high-octane drama. Former Chongquing chief Bo Xilai who at one point was certain to get a spot on the PSC was ousted from his position earlier this year, the first scandal.

The size of the list supports earlier reports in Chinese media reports, that said that the PSC will be restricted to seven seats, down from nine. Senior party officials are said to have reduced the number to limit power given to those in the position of domestic security chief and the propaganda minister.

Current domestic security chief Zhou Yongkang's ties to Bo Xilai prompted party officials to write a letter calling for him to be fired. They also called for the sacking of propaganda minister Liu Yunshan.

The make-up of the PSC will have major implications on China's economic priorities and foreign policy among other things. And with seven of nine members including president Hu Jintao and premiere Wen Jiabao stepping down because of age restrictions, the PSC will take on a new face that the world will be paying close attention to.